Source: newsthemegh.com
The parliamentary minority is advocating for an increase in the cocoa farm-gate price.
Their observation of the skyrocketing prices of cocoa around the world, which just hit an all-time high of $10,000 per ton, led them to make this demand.
The increase in cocoa prices worldwide has been ascribed to a scarcity of supply, predominantly as a result of a notable decrease in cocoa production in Ghana and Cote d’Ivoire, two countries that together account for 70% of the global cocoa production volume.
According to the National Democratic Congress (NDC) MPs, $10,000 per ton of cocoa is equivalent to GHS130,000 per ton at a conservative conversion rate of $1 to GHS13.
As a result, the Minority estimates that although Ghanaian farmers receive a pitiful GHS1,308 per ton from the government, a ton of cocoa is currently selling for roughly GHS8,125 on the international market.
This enormous disparity is denounced by the Minority, who characterize it as exploitative.
They contend in a statement that Ghanaian farmers should not be paid so little for their cocoa, especially in light of the far higher prices it fetches on the international market.
The Minority is adamant that the farm-gate price be increased to a level that more accurately reflects the current global cocoa prices, even though they have not stated exactly what increase they are supporting.
Statement Below:
